Repayment Mortgage Decision Reference 2022-0119

Case OutcomeRejected
Subject MatterRepayment Mortgage
Date06 April 2022
Finantial SectorBanking
Conducts Complained OfFailure to provide calculations,Delayed or inadequate communication, Dissatisfaction with customer service , Failure to offer appropriate compensation or redress CBI Examination, Failure to process instructions, Failure to process instructions in a time
Decision Ref:
Product / Service:
Repayment Mortgage
Conduct(s) complained of:
Failure to provide calculations
Delayed or inadequate communication
Dissatisfaction with customer service
Fees & charges applied
Failure to process instructions in a timely manner
Failure to provide product/service information
Failure to process instructions
Failure to offer appropriate compensation or
redress CBI Examination
This complaint concerns expenses arising from the Provider’s delay in approving the
Complainants’ mortgage.
The Complainants’ Case
The Complainants applied for a mortgage with the Provider in January 2018 to fund the
construction of a new house. The Complainants submit that delays arose during the
application process, and the mortgage was not approved until June 2018.
The Complainants say that, as a result of this delay, they had to live in rented
accommodation for a longer period. They note that the costs of construction rose during
the period of delay, and they rely on the opinion of a quantity surveyor in this regard.
The quantity surveyor’s letter, dated 30 August 2019, states that building costs had
increased due to inflation by 11% “since January 2018”. The surveyor did not state the end
date of this calculation, but noted that there had been further increases during 2019. He
concluded that the construction cost for the Complainants had risen by €22,000 (twenty-
two thousand Euro). The Complainants say that they incurred an additional fee in engaging
the services of this surveyor to substantiate their claim.

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